Exports of Pakistan’s pharmaceutical products has registered a 10 percent increase during the previous calendar year of 2008 mainly on account of better marketing approach by the local pharmaceutical companies and their sustained efforts to enhance the quality.
The export of Pakistani medicines to some 50 to 55 countries across the globe stands at $110 million as compared to $100 million achieved during the corresponding period of previous year.
Although total exports of 2007 stood at $125 million but the substantial amount was generated through the sales of medical equipments and tools, which are highly popular across the globe.
Ironically, Pakistani is ranked far below in the list of major medicine exporting countries, despite enhancing export goals as multifarious factors could be blamed for impediments hampering fast track progress of the pharmaceutical industry during several decades.
Former Chairman, Pakistan Pharmaceutical Manufacturer Association (PPMA) Dr Qaiser Waheed in response to a query of Daily Times claimed that over the years, Indian pharmaceutical companies, with full backing by the government, have managed to create a big demand of their products world over and consequently previous year their total annual export volumes stood around $7 billion.
The massive volume of exported medicine speaks the volume of quality of Indian products specially the raw material required for production of medicines. Citing instances of official support to the Indian pharmaceutical Industry, Dr Waheed said that the government has established a separate Pharma Excel Council with an aim to handle affairs of this sector and remove impediments that may hinder their smooth functioning. He claimed that owing to sincere and devoted endeavours of Pakistani pharma industry during last many years, the country has been able to enhance export volume of medicines to substantial level helping the country in the process to earn invaluable foreign currency. Earlier, export of the pharmaceutical products stood in disarray, due to which the country’s export volume remained stagnant for long period of time.
Currently bulks of medicines are exported to African countries, Central Asian States, Philippines, Vietnam, Myanmar and Sri Lanka. Citing major problems faced by the pharma industry, Dr Waheed said the potential of this sector was never recognised by the officials in Federal Health Ministry mainly on account of their lack of knowledge relating to the needs of this enormous sector.